FCLD vs. TIME

Last updated Jun 4, 2026

FCLD (Fidelity Cloud Computing ETF) and TIME (Clockwise Core Equity & Innovation ETF) are both Technology Equities funds. FCLD is passively managed, while TIME is actively managed. Over the past year, FCLD returned 45.14% vs 23.44% for TIME. A 0.67 correlation means they provide meaningful diversification when combined. FCLD charges 0.39%/yr vs 1.00%/yr for TIME.

Performance

FCLD vs. TIME - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Cloud Computing ETF (FCLD) and Clockwise Core Equity & Innovation ETF (TIME). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCLD achieves a 34.57% return, which is significantly higher than TIME's 9.82% return.

FCLD

• 1D: -2.61%
• 1M: 19.91%
• YTD: 34.57%
• 6M: 36.74%
• 1Y: 45.14%
• 3Y*: 28.24%
• 5Y*: —
• 10Y*: —

TIME

• 1D: -0.73%
• 1M: 5.38%
• YTD: 9.82%
• 6M: 10.85%
• 1Y: 23.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FCLD vs. TIME - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FCLD Fidelity Cloud Computing ETF	34.57%	8.19%	18.17%
TIME Clockwise Core Equity & Innovation ETF	9.82%	10.17%	6.75%

Correlation

The correlation between FCLD and TIME is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (All Time) Calculated using the full available price history since Jun 25, 2024	0.67

The correlation between FCLD and TIME shifts across timeframes, from 0.53 (1 year) to 0.67 (all time), reflecting how their relationship changes across market environments.

FCLD vs. TIME - Sectors Allocation Comparison

Sectors	FCLD	TIME
Technology	86.1%	38.5%
Real Estate	7.9%	-
Communication Services	3.7%	17.4%
Consumer Cyclical	2.3%	13.8%
Basic Materials	-	3.0%
Consumer Defensive	-	10.1%
Energy	-	8.4%
Financial Services	-	3.2%
Healthcare	-	0.5%
Industrials	-	1.0%
Utilities	-	5.1%

Return for Risk

FCLD vs. TIME — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FCLD

FCLD Risk / Return Rank: 46
FCLD Sharpe Ratio Rank: 47
FCLD Sortino Ratio Rank: 45
FCLD Omega Ratio Rank: 43
FCLD Calmar Ratio Rank: 52
FCLD Martin Ratio Rank: 42

TIME

TIME Risk / Return Rank: 45
TIME Sharpe Ratio Rank: 51
TIME Sortino Ratio Rank: 48
TIME Omega Ratio Rank: 49
TIME Calmar Ratio Rank: 36
TIME Martin Ratio Rank: 41

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FCLD vs. TIME - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Cloud Computing ETF (FCLD) and Clockwise Core Equity & Innovation ETF (TIME). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	FCLD	TIME	Difference
Sharpe ratio: Return per unit of total volatility	1.66	1.78	-0.12
Sortino ratio: Return per unit of downside risk	2.27	2.40	-0.13
Omega ratio: Gain probability vs. loss probability	1.28	1.31	-0.04
Calmar ratio: Return relative to maximum drawdown	2.60	1.80	+0.80
Martin ratio: Return relative to average drawdown	6.81	6.63	+0.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCLD vs. TIME - Sharpe Ratio Comparison

The current FCLD Sharpe Ratio is 1.66, which is comparable to the TIME Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of FCLD and TIME, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FCLD	TIME	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.66	1.78	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.80	-0.47

Drawdowns

FCLD vs. TIME - Drawdown Comparison

The maximum FCLD drawdown since its inception was -50.85%, which is greater than TIME's maximum drawdown of -24.26%. Use the drawdown chart below to compare losses from any high point for FCLD and TIME.

Drawdown Indicators

	FCLD	TIME	Difference
Max Drawdown Largest peak-to-trough decline	-50.85%	-24.26%	-26.59%
Max Drawdown (1Y) Largest decline over 1 year	-17.48%	-13.09%	-4.39%
Max Drawdown (3Y) Largest decline over 3 years	-34.80%	—	—
Current Drawdown Current decline from peak	-4.00%	-0.74%	-3.26%
Average Drawdown Average peak-to-trough decline	-20.51%	-5.60%	-14.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.64%	3.55%	+3.09%

Volatility

FCLD vs. TIME - Volatility Comparison

Fidelity Cloud Computing ETF (FCLD) has a higher volatility of 10.45% compared to Clockwise Core Equity & Innovation ETF (TIME) at 3.48%. This indicates that FCLD's price experiences larger fluctuations and is considered to be riskier than TIME based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCLD	TIME	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.45%	3.48%	+6.97%
Volatility (6M) Calculated over the trailing 6-month period	22.07%	10.14%	+11.93%
Volatility (1Y) Calculated over the trailing 1-year period	27.40%	13.27%	+14.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.50%	17.62%	+12.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.50%	17.62%	+12.88%

FCLD vs. TIME - Expense Ratio Comparison

FCLD has a 0.39% expense ratio, which is lower than TIME's 1.00% expense ratio.

Dividends

FCLD vs. TIME - Dividend Comparison

FCLD's dividend yield for the trailing twelve months is around 0.02%, less than TIME's 9.12% yield.

Position	TTM	2025	2024	2023	2022	2021
FCLD Fidelity Cloud Computing ETF	0.02%	0.03%	0.13%	0.17%	0.26%	0.13%
TIME Clockwise Core Equity & Innovation ETF	9.12%	10.02%	15.84%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FCLD and TIME in my portfolio?

FCLD and TIME have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCLD or TIME?

FCLD has higher volatility (10.45%) compared to TIME (3.48%). In terms of maximum drawdown, FCLD dropped -50.85% vs TIME's -24.26%.

Which ETF is better, FCLD or TIME?

On 1-year performance, FCLD leads with 45.14% vs 23.44% for TIME. On fees, FCLD is cheaper at 0.39% per year. On volatility, TIME has been the lower-risk option at 3.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FCLD or TIME?

Over the 1-year period, FCLD has performed better with a 45.14% return vs 23.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FCLD or TIME?

FCLD is cheaper with a 0.39% expense ratio, compared with 1.00% for TIME.

Which ETF pays a higher dividend yield, FCLD or TIME?

TIME has the higher dividend yield at 9.12%, compared with 0.02% for FCLD.

What is the main difference between FCLD and TIME?

They also come from different issuers: Fidelity and Clockwise Capital. Their fees differ too: 0.39% for FCLD and 1.00% for TIME.

Which has better risk-adjusted returns?

TIME currently has the higher Sharpe Ratio (1.78 vs 1.66), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.